Tiffany Sales Up 6% for Holiday

January 10, 2006

Tiffany Sales Up 6% for Holiday

Tiffany & Co. credited demand for diamonds for driving a 6% increase in comparable-store sales worldwide over the last two months of 2005. Direct-marketing sales rose 14%, fueled by Internet orders, as compared to the same period in 2004.

Total sales were $712 million in November and December and U.S. sales were up 8% over the same period in 2004. U.S. customers spent more per transaction but sales were down 1% at its New York City flagship store, the retailer reported. Tiffany gave no reason for the sales decline at its flagship store, reports Reuters, but it had been tabbed by analysts as one of the retailers most likely to be hurt by New York City's pre-Christmas transit strike.

International sales dropped 1%, to $241 million, but were up 8% on a local currency basis. Total retail sales were up 7% in Tiffany's key foreign market, Japan.

Sign me up for